Weak consumer demand persists, spot copper premiums/discounts decline [SMM North China Spot Copper]

SMM December 17 News:

Today, in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 360-320 yuan/mt, with an average discount of 340 yuan/mt, down 40 yuan/mt from the previous trading day. Transaction prices ranged from 91,840-92,070 yuan/mt, with an average of 91,955 yuan/mt, up 430 yuan/mt from the previous trading day. Due to persistently weak downstream consumption, inventories of semi-finished copper products and copper cathode accumulated, and spot premiums/discounts continued to decline, while actual transactions remained weak. Today, procurement sentiment for copper cathode in North China was 1.44, up 0.05 from the previous trading day, and sales sentiment was 2.21, up 0.22 from the previous trading day ().